Listing Info
LISTING INFO
Equity
Equity The value in your home above the total amount of the liens against your home. If you owe $100,000 on your house but it is worth $130,000, you have $30,000 of equity. For other words and definitions related to real estate auctions For all active auctions, and properties for sale...
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What does “As Is, Where Is” mean?
You are buying the property in its current condition with no guarantees. Read the Terms and Conditions of Sale in completeness. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and...
What is an “absolute auction”?
An absolute auction means the property will sell to the highest bidder regardless of price. However, there are rules that govern the offer and acceptance in strict dictation of the The Uniform Commercial Code 2-328. For Other Questions About Auctions...
What if I am a broker?
Licensed brokers can earn participation fees by registering clients in advance in accordance with the Terms and Conditions of Sale. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and...
I cannot make it to the sale in person. Can I bid online? If so, how?
Many auctions offer online or telephone bidding. Check the auction terms for details. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and definitions related to real estate...
If I scratch my nose, stretch, or wave at a friend, will the auctioneer think I’m bidding?
It’s possible, but skilled auctioneers can recognize true bids. Auctioneers are trained to seek bids but verify authenticity. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and...
Can I register online?
Yes, through the online platform used for the specific auction. It may be required that additional information or paper registration at a site location for a live or physical sale. For Other Questions About Auctions & Auctioneers For all active...
Does it cost anything to register or attend the auction?
Most auctions do not charge a fee to attend. The Terms and Conditions of the Auction will dictate the payment, if any. Other forms of verification may take place, such as credit card minimal charge to authenticate identification. For Other Questions...
What do I need to bring to register as a bidder at one of your auctions?
A government-issued ID is required. Check the terms for additional requirements. Verification of the individual bidding will be important to the process. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale...
Can I preview the auction property/items before bidding?
Yes, preview times are usually available. The auctioneer makes the schedule, the property is open for inspections in most cases. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other words and...
What time do auctions start?
Real estate auctions typically start at 11 a.m., and personal property auctions at different times. Online Auctions start and end at different times. The Schedule of Events dictate the start of the Auction. For Other Questions About Auctions &...
Are auctions only for distressed or discounted properties?
No. Auctions include properties from private individuals, luxury property, residential homes, land and ranch, farm properties, corporations, and estates, not just distressed situations. For Other Questions About Auctions & Auctioneers For all active...
When do you have auctions?
Auctions are held continuously. Signing up for email alerts is the best way to stay updated. Check the bidding pages at MyersJackson.bid :|: Watch for the RED LIGHTS (reserve not met) and GREEN LIGHTS (reserve met). For Other Questions About Auctions...
What is a bank letter of credit?
A letter that may be required at some auctions to show you are approved for a certain amount. The bank letter of credit guarantees the bank will pay the amount of money required. The bank letter of credit is a powerful instrument when it comes to guaranteed payment....
What is a buyer’s premium?
A buyer’s premium is a fee added to your bid price to create the contract price. Buyer’s Premium may be found in other articles within these webpages. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale...
I want to go to an auction. What should I know before I bid?
Understand the terms of the auction and set a budget to avoid getting caught up in the excitement. For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale For other terms and definitions related to real estate...
How do I become an auctioneer? What’s the path for starting the career?
Start by practicing the chant and improving over time. Schools in Iowa, Montana, Texas, Ohio, Indiana, and Florida offer professional auctioneer training For Other Questions About Auctions & Auctioneers For all active auctions and properties for sale...
What do auctioneers say?
The fast talk you hear is called the "chant," spoken at about 600 words per minute. Filler words are used between the asking prices. The auctioneer announces the money that has been bid and the amount the auctioneer is asking. I have bid 100 dollars and now asking...
What happens if you win at an auction and can’t pay?
Winning an auction creates a binding contract. Failure to pay can result in breach of contract, loss of deposits, legal action, and a damaged reputation. You may also face additional costs for relisting. The seller may have other enforcement announcements in the terms...
How will the final payment be calculated?
The final payment includes the bid price. The buyer's premium, auctioneers fee, and additional fees such as closing costs, transfer, documentation and attorney fees are costs in addition to the bid or price offered. The Auctioneer normally will report the bid amount...
Can a seller refuse a winning bid?
Yes, even if the offer is above the listing price, a seller has the legal right to refuse a bid and accept another offer if the terms of the auction are offered with Reserve. Texas State law gives option for choices a seller can make after receiving an offer in full...